BTC biggest pump and dump yet (crash next Monday?)
Supposedly, the recent series of rallies are motivated by the launch of future contracts on major options exchanges. Now, trading has begun on CBOE, but what's the volume? At this point it seems to be just a little over 2k: cfe.cboe.com/cfe-products/xbt-cboe-bitcoin-futures
2k in 7 hours on the first day of trading -> probably not going to be much over 5k / day for a long time -> meanwhile, on bitcoin exchanges the volume has been over 800k / day.
Obviously, this is the biggest pump & dump scheme in this market yet. I suspect friends of these exchanges, perhaps including some major banks, have already huge positions on bitcoin. Once they've made enough, there'll be a huge dump.
It's not meaningful to look at the charts for a hugely manipulated asset. I think it'll do exactly the opposite of what you think. Once the market has reached consensus that this is a new paradigm, and that bitcoin will be 1m or 100m -> it'll crash to 1 or 2k.
2k in 7 hours on the first day of trading -> probably not going to be much over 5k / day for a long time -> meanwhile, on bitcoin exchanges the volume has been over 800k / day.
Obviously, this is the biggest pump & dump scheme in this market yet. I suspect friends of these exchanges, perhaps including some major banks, have already huge positions on bitcoin. Once they've made enough, there'll be a huge dump.
It's not meaningful to look at the charts for a hugely manipulated asset. I think it'll do exactly the opposite of what you think. Once the market has reached consensus that this is a new paradigm, and that bitcoin will be 1m or 100m -> it'll crash to 1 or 2k.
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